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PROTESTS EBBING: Niger Delta Forum Withdraws; Normalcy returns to Benin

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PROTESTS EBBING: Niger Delta Forum Withdraws; Normalcy returns to Benin

…As Protesters leave Gani Fawehinmi Park in Lagos

 The Niger Delta Young Leaders Forum, a Civil Society Organisation (CSO), has announced its withdrawal from the ongoing nationwide end-bad governance protest. Normalcy has also returned to Benin, after days of protest 

The National Chairman of the group, Chief Imo Okoko, announced this in a statement released in Abuja.

“Our young leaders of the Niger Delta region scattered across the country, we appreciate the solidarity shown us throughout this most trying period of our collective quest for good governance and a better standard of living for all Nigerians.

“It will be recalled that before Aug. 1, we had repeatedly voiced the pains, anger, and frustration of our people over the soaring prices of almost every food item and essential commodities in the country.

“We equally forewarned of our readiness to join the planned protest, if nothing concrete was put on ground to cushion the hardship we are experiencing.

“We salute the courage of all our members and associates who have trouped out in their hundreds and thousands to solidarise with and support the protesters nationwide.

“Your sacrifices and the risks you have taken shall never go unrewarded, as both humanity and divinity have taken records accordingly,” Okoko said.

He said after Day 5 of the nationwide protests, it had become imperative to take stock and do an objective review of the progress made and the situation on ground.

The chairman of the group praised the protesters for showing a high level of civility and maturity thus far and also expressed appreciation to the security operatives for exhibiting professionalism in managing the protesters.

According to him, no government, in recent history has tolerated protests and accommodated the magnitude of public confrontations in such a manner.

He applauded the government for the sustained empathy it showed in acknowledging the pains and hardships the people are facing.

Okoko then appealed to the youth for more patience and time for the government to implement the various policies and programmes designed to remedy the situation.

“Above all, we have observed the gradual hijack of the protests by criminal elements in parts of the country, a dimension that has led to the looting of shops and warehouses, violence, and the attack of innocent Nigerians.

“It is in light of these developments that we have decided to yield to the intervention and passionate appeal of the highly-respected leadership of the National Civil Society of Nigeria (NCSCN), under the watch of Amb. Blessing Akinlosotu, and suspend our participation in the ongoing nationwide protests against.

“We, therefore, direct all our members and associates to, henceforth, pull out of the protest and join forces with the NCSCN in their intense advocacy for further consultations and dialogue with the government,” Okoko said.

He commended the leadership of the Civil Society Council for brokering the resolution and applauded its members for the remarkable show of solidarity and loyalty.

In another development, Commercial activities finally picked up in Benin on Tuesday after five days of protests in Benin, Edo.

The roadblocks at strategic areas of the city have been dismantled by security operatives.

Shop owners, who closed their businesses for fear of being attacked, were seen displaying their goods when a correspondent moved around the city.

The secretariat of the Edo Government which had been under lock for days was also opened to workers on Tuesday.

A coalition of Civil Society Organisations that occupied the King Square at the popular Ring Road also withdrew from the nationwide protest

However, many banks are yet to open for business as customers were stranded at the entrances of some of the banks.

A trader at the  King Square popularly known as Ring Road, Mrs Favour Osagiede, expressed delight over the improvement in economic activities in the area.

She said that the little savings she had were exhausted during the protest.

Osagiede said opening of the Oba market in the area, would help her make some money to cater for feeding and other needs at home.

She said despite the protest being peaceful, putting an end to it remained a better option to avoid the continued hardship.

Mr Gbenga Samuel, who deals in second-hand clothing, appealed to the Federal Government to attend to the demands of the protesters.

Protests seeking an end to economic hardship were initially very intensive in Benin, where youths barricaded major roads. 

Meanwhile, normalcy has returned to the Gani Fawehunmi Park, Ojota in Lagos State after five days of protests against hardship by some groups.

A correspondent at the park on Tuesday observed that protesters had left the place and that more than 40 vehicles belonging to security agencies were seen stationed at the park.

The vehicles parked at the front gate of the park included those of the police, the Nigeria Security and Civil Defence Corps, the Department of State Service Lagos State Neighbourhood Safety Agency and the military.

It was equally observed that security vehicles were parked on the service lanes of the Ojota-Ikorodu Road.

A resident of Ojota, who pleaded anonymity, noted that the organisers of the protest suspended the protest Monday evening, for reasons not disclosed.

He said that a handful of protesters was at the park early Tuesday to continue the protest, but decided to retreat when they sighted heavy security presence at the park.

“Few members of that group were around this morning, but when they tried to gather, security operatives dispersed them, ensuring normalcy,’’ he said.

The Lagos Police Command Spokesperson, SP Benjamin Hundeyin, told newsmen that apart from Ojota, normalcy had returned to other parts of the state.

Hundeyin said security personnel would remain at Ojota Park for a while before pulling out completely to ensure that troublemakers did not gather there again.

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Economy

EKO BRIDGE REPAIRS: LASG Rolls Out Diversion Plan Beginning Monday

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EKO BRIDGE REPAIRS; LASG Rolls Out Diversion Plan Beginning Monday

The Lagos State Government on Friday announced that traffic will be diverted away from Eko Bridge to facilitate emergency repairs by the Federal Ministry of Works. 

The diversion, according to the Commissioner for Transportation, Mr Oluwaseun Osiyemi, will commence on Monday, 16th September 2024, and will last for 8 weeks.

“The repairs will be carried out in four phases, during which the bridge will be intermittently fully or partially closed, depending on the work schedule”, Osiyemi stated, advising Motorists to use the following alternative routes during the repairs:

*Motorists heading to the Island from Funsho Williams Avenue can make use of the service lane at Alaka to connect to Costain and access Eko Bridge to continue their journeys.

*Alternatively, Motorists heading to the Island can access Costain to connect Eko Bridge to link Apongbon for their destinations.

*Motorists can also connect Apongbon inwards Eko Bridge to link Costain to access Funsho Williams Avenue.

*Motorists can also make use of Costain inwards Alaka/Funsho Williams Avenue or alternately go through Apapa Road from Costain and link Oyingbo to access Adekunle to link Third Mainland Bridge for their desired destinations.

*In the same vein Motorists heading to Surulere are advised to use Costain to link Breweries inward to Abebe Village to connect Eric Moore/Bode Thomas to get to their destinations.

The Commissioner for Transportation, Mr Oluwaseun Osiyemi, assures that Lagos State Traffic Management Authority officers will be deployed to the rehabilitation areas and alternative routes to minimize travel delays and inconvenience.

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Economy

INFLATION: Centre Urges FCCPC To Desist From Price Control Mindset

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INFLATION: Centre Urges FCCPC To Desist From Price Control Mindset

The Centre for the Promotion of Private Enterprises (CPPE) has urged the Federal Competition and Consumer Protection Commission (FCCPC) not to adopt a price control mindset in a bid to tackle inflationary pressures.

CPPE Founder, Dr Muda Yusuf, gave the advice in a statement on Sunday in Lagos.

Yusuf expressed concerns over the approach, methodology and recent threats by the FCCPC targeted at market leaders, traders and supermarket owners.

He stated that the approach made the FCCPC appear to be unwittingly transforming into a price control agency rather than a consumer protection commission.

He noted that the core mandate of the commission was the creation of a robust competition framework across sectors and the protection of consumer rights and interests.

“Consumer protection is not about directly seeking to control price at the retail end of the supply chain and this is why the CPPE is concerned about the FCCPC’s approach.

“The commission seems to be fighting the symptoms rather than dealing with the causes of the current inflationary pressure in the economy,” he said.

Yusuf said that the best way to protect consumers from exploitation theoretically and empirically, was to diligently promote competition across sectors.

According to him, the experience with the telecoms sector amply validates this position.

Yusuf stated that the emphasis should not be on pricing but on deepening the culture and practice of competition and a level playing field for all investors.

He noted that intense competition made profiteering difficult and diminished the chances of exploitation of consumers.

“The retail sector of the economy is characterised by a multitude of players as there are an estimated eight million retailers in the trade sector of the Nigerian economy.

“The truth is that the retail segment of the economy is the least vulnerable to price gouging or consumer exploitation on a sustainable basis, contrary to the thinking of the commission.

“The reality is that the risk of profiteering increases with monopoly powers. This is why the attention of the commission should be focused on creating a good competition framework to deepen competition across sectors,” she said.

The CPPE boss urged the commission to get a proper comprehension of the dynamics of pricing and the key drivers of inflation such as naira exchange rate depreciation, and high energy costs among others.

“Our view is that the proposal by the FCCPC to traverse markets across the country to ensure price regulation is unlikely to yield concrete outcomes and this is not a sustainable strategy.

“What we need to fix are the fundamentals driving production, operating and distribution costs which resulted in spiralling inflation in the first place.

“The commission needs to be more diligent and thorough in its analysis before alleging consumer exploitation by the trading community,” he said.

The CPPE boss also appealed to the FCCPC to refrain from further intimidation of the operators in the retail sector of the economy most of whom are micro and small businesses, with many in the informal sector.

He said if the trajectory continued, there was an emerging risk of market suppression and private enterprise repression by the FCCPC, marking an elevation of regulatory risk in the Nigerian economy and detrimental to investors’ confidence.

Yusuf instead, urged the commission to collaborate with other government agencies to tackle the fundamental causes of inflation in the economy. 

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Economy

NNPCL’s Financial Strain, Threatening Fuel Supply

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NNPCL's Financial Strain, Threatening Fuel Supply

The Nigerian National Petroleum Company Limited (NNPC Ltd) is experiencing financial strain, which has put considerable pressure on the company and threatened the fuel supply’s sustainability.

Mr Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd, affirmed this in a statement on Sunday, acknowledging reports in national newspapers regarding the company’s significant debt to petrol suppliers.

Already, incessant fuel queues occasioned by pronounced scarcity in Lagos and Ibadan have resulted in several petrol stations currently selling petrol between N950 and N1,000 per litre.

Industry stakeholders put the NNPCL’s debt at about $6 billion, which has caused the product suppliers to become reluctant about importing Premium Motor Spirit (PMS) for the company.

The NNPCL has however kept mum on the actual amount it owes, only acknowledging that she currently owes.

Reacting to the situation, Soneye stated that the financial strain had placed considerable pressure on the company and posed a threat to the sustainability of fuel supply.

“In line with the Petroleum Industry Act (PIA), NNPC Ltd remains committed to its role as the supplier of last resort, ensuring national energy security,” he said.

Soneye added that the company was collaborating with relevant government agencies and other stakeholders to maintain a consistent supply of petroleum products nationwide.

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